Blogs Home - Tags - smarter_analytics homeurn:lsid:ibm.com:blogs:entries92015-03-27T10:08:16-04:00IBM Connections - Blogsurn:lsid:ibm.com:blogs:entry-e9b6e03e-567e-4064-8d92-786d48dc59aaIBM Big Data & Analytics: How bigger data creates better decisionsCasper Hansenchansen@dk.ibm.com270004YJ0EactiveComment Entriesapplication/atom+xml;type=entryLikes2013-07-02T02:32:22-04:002013-07-02T02:32:22-04:00<p dir="ltr">
<strong><span style="font-family:arial;"><span style="font-size:16.0pt;">IBM Big Data &amp; Analytics: How bigger data creates better decisions</span></span></strong></p>
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&nbsp;<span style="font-family:arial;">Companies all around the world are using data and business analytics to inform their interactions. Analytics has helped some companies increase online revenue by up to 50%. It&#39;s a Smarter Planet - every decision maker can be a smarter one. Let&#39;s build a Smarter Planet. Learn more at <a href="http://ibm.co/10vCQQK">http://ibm.co/10vCQQK</a></span></p>
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IBM Big Data &amp; Analytics: How bigger data creates better decisions
&nbsp; Companies all around the world are using data and business analytics to inform their interactions. Analytics has helped some companies increase online revenue by up to 50%....001667urn:lsid:ibm.com:blogs:entries-5b1cf5af-491e-477f-9b44-c1d6e0120ce5IBM CSI Newsblog2013-10-23T02:10:25-04:00urn:lsid:ibm.com:blogs:entry-3f78973b-2230-41ef-83bf-cc4199faffc7Gain a competitive edge with Smarter Analytics and Big DataMichel LethMICHELL@dk.ibm.com270006B366activeComment Entriesapplication/atom+xml;type=entryLikes2013-05-24T04:37:48-04:002013-05-24T04:40:14-04:00<p dir="ltr">
<a href="https://www-304.ibm.com/connections/blogs/gbsdkcontent/resource/BLOGS_UPLOADED_IMAGES/big-data.jpg" target="_blank"><img alt="image" height="181" src="https://www-304.ibm.com/connections/blogs/gbsdkcontent/resource/BLOGS_UPLOADED_IMAGES/big-data.jpg" style="display: block; margin: 1em 1em 0pt 0pt; float: left;" width="264" /></a></p>
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T&aelig;nker du, at du er for lille til <a href="http://www.ibm.com/analytics/us/en/" target="_blank">Big&nbsp;Data</a>? N&aelig;ppe. Big Data er mere end et sp&oslash;rgsm&aring;l om st&oslash;rrelse, det er en m&aring;de at afd&aelig;kke muligheder fra nye og kommende interne og eksterne datakilder. Big Data er et redskab til bedre at forst&aring; de enkelte kunder, og leverer v&aelig;rdi direkte til kunden. Smarter Analytics har hjulpet over 30.000 IBM kunder p&aring; tv&aelig;rs af brancher, til at opn&aring; betydelige resultater p&aring; omr&aring;der som kundetilfredshed, operationel effektivitet, finansielle processer og risici, svindel m.m. Ved at give dig et redskab til at forudsige tendenser, f&oslash;r de sker, kan Smarter Analytics giver dig mulighed for at v&aelig;re et skridt foran dine konkurrenter i fremtiden. Download <a href="https://www14.software.ibm.com/webapp/iwm/web/signup.do?source=sw-infomgt&amp;S_PKG=500016891&amp;S_CMP=is_bdebook1_bdmicrornav" target="_blank">e-bogen</a> for at forst&aring; Big Data, eller l&aelig;s mere <a href="http://www-01.ibm.com/software/data/bigdata/" target="_blank">her</a> omkring hvilke forretningsmuligheder IBM Smarter Analytics kan tilbyde din virksomhed.</p>
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T&aelig;nker du, at du er for lille til Big&nbsp;Data ? N&aelig;ppe. Big Data er mere end et sp&oslash;rgsm&aring;l om st&oslash;rrelse, det er en m&aring;de at afd&aelig;kke muligheder fra nye og kommende interne og eksterne datakilder. Big Data er et redskab...001669urn:lsid:ibm.com:blogs:entries-c7193256-5340-4fad-8c36-63dc22fe7c42GBS DK Content2014-09-16T10:17:09-04:00urn:lsid:ibm.com:blogs:entry-ab34e4e5-886e-4282-8080-61e05f3ea71eAnalytics: The real-world use of Big DataSimon Crispsjcrisp@au1.ibm.com270002GAFUactiveComment Entriesapplication/atom+xml;type=entryLikes2013-04-09T20:18:18-04:002013-04-09T20:27:39-04:00<div>An organisation protecting themselves against insurance fraud, determining the optimal placement for a multimillion dollar wind turbine, and a supermarket’s ability to schedule price reductions to sell perishable products before they spoil. How are these situations connected?<br>&nbsp;<br>The answer lies in transforming big data into analytical insight.<br>&nbsp;<br>In today’s globally integrated economy, big data is no longer confined to the realm of technology - instead it is a business priority, permeating each facet of the organisation. This is because big data inspires new ways to transform processes, organisations and industries through its ability to reap competitive advantage and business value.<br>&nbsp;<br>As a result, many organisations are basing their business cases on the following benefits that can be derived from big data:<br>&nbsp;<br><ul><li>Smarter decisions – Leveraging new sources of data to improve the quality of decision making for more dependable outcomes.</li><li>Faster decisions – Enabling more real-time data capture and analysis to support decision making at the “point of impact,” such as when a customer is navigating your website.</li><li>Decisions that make a difference – Focusing big data efforts toward areas that provide true differentiation.</li></ul>&nbsp;<br>In fact next to their employees, IBM’s 2012 executive report, <a href="http://www-935.ibm.com/services/us/gbs/thoughtleadership/ibv-big-data-at-work.html">“Analytics: the real-world use of big data”</a> revealed that many companies consider information to be their most valuable and differentiated asset, improving decision making and performance.<br>&nbsp;<br>Whilst many success stories around the uses of big data exist, it is hard to distinguish hype from reality. Thus, what is really happening with big data? And given the hype, what makes this era of big data different?<br>&nbsp;<br>IBM has identified two important trends differentiating this era of big data:<br>&nbsp;<br><ul><li>The digitisation of applications and processes creates types of large and&nbsp; real-time data across many industries. Much of this data is unstructured data, that is, data that does not fit neatly into traditional, structured, relational warehouses. The rate at which this data has become available has increased in volume, variety and velocity in recent times, given consumers’ shifting preferences to go online.</li><li>The advancement of today’s technologies and techniques is enabling organisations to extract insights from data with new levels of sophistication, speed and accuracy. Accordingly, 63% of respondents reporting that the use of big data and analytics is creating a competitive advantage for their organisations. This is an increase of 70% since a similar study was conducted in 2010.</li></ul>&nbsp;<br>Organisations realise the value of big data and analytics by analysing the volume, velocity and variety of new and existing data, whilst implementing the right skills and tools to better understand the organisation’s operations, customers and the marketplace.<br>&nbsp;<br>True leaders in analytics are not only using insights from big data for decision making but are also integrating the use of big data into day to day customer interactions and processes to improve customer experience and business return.<br>&nbsp;<br>Find out more by reading IBM’s Executive Report, <a href="http://www-935.ibm.com/services/us/gbs/thoughtleadership/ibv-big-data-at-work.html">“Analytics: the real-world use of big data”</a> and join the discussion through Twitter <a href="https://twitter.com/sjcrisp">@sjcrisp</a> and <a href="https://twitter.com/IBMthinkersANZ">@IBMthinkersANZ</a>.
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An organisation protecting themselves against insurance fraud, determining the optimal placement for a multimillion dollar wind turbine, and a supermarket’s ability to schedule price reductions to sell perishable products before they spoil. How are these...001779urn:lsid:ibm.com:blogs:entries-e58d8484-9256-44bc-99b8-2bcd34a42a6bGlobal Business Services2015-03-17T03:34:31-04:00urn:lsid:ibm.com:blogs:entry-898d8fba-ebf5-44df-b8e0-8e3a402c4579IBM Completes Acquisition of Star Analytics Inc.Casper Hansenchansen@dk.ibm.com270004YJ0EactiveComment Entriesapplication/atom+xml;type=entryLikes2013-03-26T03:24:34-04:002013-03-26T03:24:34-04:00<!--[if gte mso 9]&gt;&lt;xml&gt;
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&lt;/xml&gt;&lt;![endif]--><p class="MsoNormal"><b style="mso-bidi-font-weight:normal"><span style="font-size:16.0pt;font-family:Arial">IBM Completes Acquisition of Star
Analytics, Inc.</span></b></p>
<p class="MsoNormal"><span style="font-family:Arial">IBM recently announced it
has completed the acquisition of the software portfolio of Star Analytics,
Inc., a privately held business analytics company headquartered in Redwood City, California.&nbsp;Financial
terms were not disclosed. </span></p>
<p class="MsoNormal"><span style="font-family:Arial">The combination of IBM and
Star Analytics’ software will further advance IBM's business analytics
initiatives allowing clients to easily access financial information stored in
their applications, allowing them to make more informed decisions faster.&nbsp;</span></p>
<p class="MsoNormal"><span style="font-family:Arial">Star Analytics software
addresses a rising challenge for organizations -- helping to automatically
integrate essential information, reporting applications and business analytics
tools across their enterprises, on premise or from cloud computing
environments.&nbsp;The software removes typical custom coding for specialized
sources that are hard to maintain, and eliminates manual processes that are
cumbersome and time consuming.</span></p>
<p class="MsoNormal"><span style="font-family:Arial">"Applying analytics to
a wide range of data requires organizations to democratize and speed sharing of
critical information across an enterprise," said Les Rechan, IBM General
Manager, Business Analytics.&nbsp;"Star Analytics’ software advances IBM’s
efforts to deliver analytics that span all data sources directly into the hands
of front line employees, and delivers a comprehensive approach to helping
clients uncover new, untapped growth opportunities.” </span></p>
<p class="MsoNormal"><span style="font-family:Arial">Star Analytics’ software,
combined with IBM's R&amp;D and prior acquisitions in business analytics
including Varicent, Algorithmics, Clarity Systems, OpenPages and Cognos, and
recent investments in predictive analytics such as SPSS, will provide clients
with a broad range of business analytics solutions.&nbsp;These acquisitions are
part of IBM's larger focus on analytics, which spans hardware, software,
services and research. </span></p>
<p class="MsoNormal"><span style="font-family:Arial">The news supports IBM's
long-term growth strategy to expand the company’s business analytics and
optimization software and services capabilities, an area of IBM's business that
is expected to reach $20 billion in revenue by 2015. </span></p>
<p class="MsoNormal"><span style="font-family:Arial">IBM has established one of
the world’s deepest portfolios of analytics and big data technologies and
industry expertise, including almost 9,000 dedicated business analytics and
optimization consultants, and 400 researchers.&nbsp;Nearly 500 of the patents
from IBM’s record breaking 20th year of innovation will serve as the building
blocks for future analytics innovations that can help businesses and
governments unlock the power of big data.</span></p>
<p class="MsoNormal"><span style="font-family:Arial">With the closing of this
acquisition, it is expected that all Star Analytics employees will join IBM's
Software Group. </span></p><div>Please read the entire press release <a href="http://www-03.ibm.com/press/us/en/pressrelease/40574.wss">here</a></div><!--[if gte mso 9]&gt;&lt;xml&gt;
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&lt;![endif]-->IBM Completes Acquisition of Star
Analytics, Inc.
IBM recently announced it
has completed the acquisition of the software portfolio of Star Analytics,
Inc., a privately held business analytics company headquartered in Redwood City,...001888urn:lsid:ibm.com:blogs:entries-5b1cf5af-491e-477f-9b44-c1d6e0120ce5IBM CSI Newsblog2013-10-23T02:10:25-04:00urn:lsid:ibm.com:blogs:entry-a5dafe4a-00eb-4b74-8486-6e6c8c269c534 steps to leveraging analytics in life insuranceChristine Haeberlinchristine.haeberlin@ca.ibm.com270004VY53activeComment Entriesapplication/atom+xml;type=entryLikes2012-07-30T06:18:07-04:002012-07-30T10:31:46-04:00<DIV>Insurance is a data rich industry. Analytics and prediction forms (or at least should form)&nbsp;the foundation of the business model.&nbsp; However, technology is rapidly changing and data is growing exponentially.&nbsp;The ability to create a competitive advantage applying analytics&nbsp;is growing, as we&nbsp;recently found <A href="http://www-935.ibm.com/services/us/gbs/thoughtleadership/ibv-analytics-boardroom.html">in a study conducted with MIT Sloan</A>.&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<DIV>For life and annuity insurers, is this growth&nbsp;real or still&nbsp;largely aspirational?&nbsp; That is, are insurers just "thinking" about doing more but, haven't selected a specific business problem to target with analytics or incorporated analytics as an integral part of an existing project?</DIV>
<DIV>&nbsp;</DIV>
<DIV><STRONG>Define the Business Problem&nbsp;or Opportunity</STRONG></DIV>
<DIV>&nbsp;</DIV>
<DIV>Analytics in&nbsp;insurance&nbsp;is in use in&nbsp;the actuarial department and for financial planning.&nbsp;&nbsp;It is important to&nbsp;reliably predict when a customer will be paid and how much will be owed, and there is some sophistication in that department, but&nbsp;we&nbsp;also see&nbsp;extensive use of spreadsheets, ad hoc requests for information through reports and reliance on outdated tools.</DIV>
<DIV>&nbsp;</DIV>
<DIV>And of course, there is&nbsp;the often cited challenge&nbsp;of access to quality data.&nbsp; Using analytics, insurers could not only&nbsp;drive productivity up and increase the speed in which decision makers understand performance&nbsp;- they could also make more informed decisions.&nbsp;Beyond this&nbsp;there is also&nbsp;the broader application of analytics to other areas of the organization and its&nbsp;partners - in marketing, underwriting and claims.&nbsp; Analytics can&nbsp;consume any&nbsp;data, anywhere, anytime.&nbsp; Analytics on all kinds of data enable&nbsp;insurers to make&nbsp;relevant offers to qualified buyers, process simple policies without manual&nbsp;intervention and improve service&nbsp;by automating the assignment of claims&nbsp;to the right person - in real time.&nbsp; </DIV>
<DIV>&nbsp;</DIV>
<DIV>Defining the business problem is step number one. How can&nbsp;we&nbsp;make progress?</DIV>
<DIV>&nbsp;</DIV>
<DIV>
<DIV><STRONG>Leverage Experience</STRONG></DIV>&nbsp;</DIV>
<DIV>Insurers that are moving forward have strong business buy-in and sponsorship and look at the opportunity as an enterprise-wide opportunity.&nbsp; <A href="https://www-304.ibm.com/connections/blogs/gbs_insurance/entry/data_is_tomorrows_oil?lang=en_us">Data is the oil</A>.&nbsp; Analytics is&nbsp;the drill.&nbsp; With this in mind, technology becomes the enabler, not an inhibitor.&nbsp; What is needed for&nbsp;insurance to maintain a&nbsp;leading edge use of analytics and increase the ROI by becoming&nbsp;a&nbsp;larger consumer of&nbsp;analytics?&nbsp; They need interested users!&nbsp; Actuaries are the experienced&nbsp;operators and&nbsp;could&nbsp;champion efforts -&nbsp;check out what Mark Breading of SMA has to say on that <A href="http://canadainsurers.wordpress.com/2012/07/27/are-you-capitalizing-on-analytics/">here</A>.&nbsp;The three points he makes are steps two to four - of leveraging analytics in life insurance.</DIV>
<DIV>&nbsp;</DIV>
<DIV>&nbsp;</DIV>Insurance is a data rich industry. Analytics and prediction forms (or at least should form)&nbsp;the foundation of the business model.&nbsp; However, technology is rapidly changing and data is growing exponentially.&nbsp;The ability to create a competitive...002148urn:lsid:ibm.com:blogs:entries-a27fff3d-0d1b-4145-b91e-6726fb6cadf1Insurance2013-06-26T15:55:07-04:00urn:lsid:ibm.com:blogs:entry-afd8e2c6-977f-42c4-bf02-0d61cabe31bcIs Data Tomorrow's Oil?Rick Hoehnehoehne@us.ibm.com060001MH83activeComment Entriesapplication/atom+xml;type=entryLikes2012-06-18T04:32:42-04:002012-06-18T04:41:27-04:00<DIV>Data is the next natural resource. The first time I heard that observation was from our new CEO Ginni Rometty, and I think it makes a a lot of sense. I have&nbsp;suggested before that data should be treated as a capital asset,&nbsp;but thinking about data as a natural resource&nbsp;is more than a metaphor. It actually gives us a model to think about how we should leverage data to produce insight which can improve business outcomes. </DIV>
<DIV>&nbsp;</DIV>
<DIV>And it&nbsp;is certainly true for the insurance industry.</DIV>
<DIV>&nbsp;</DIV>
<DIV><B>Data is like a natural resource because in today's world it is relatively abundant and available for harvesting.&nbsp;&nbsp; </B><BR><BR>As little as five years ago,&nbsp;data was scarce.&nbsp;It was expensive to produce.&nbsp;The technology required to transform data into insight was expensive and complex.&nbsp;We were limited to simple data warehouses and basic extraction tools.&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<DIV>But that has changed.&nbsp;Watson has shown us that we no longer need to structure data into a pristine warehouse in order to produce insight. The tools are now&nbsp;available to find and extract massive amounts of data</DIV>
<UL>
<LI>
<DIV>from any source (public or private)</DIV></LI>
<LI>
<DIV>from any form (structured&nbsp; unstructured)</DIV></LI>
<LI>
<DIV>in any state (at rest or in motion)</DIV></LI>
<LI>
<DIV>with any certainty.&nbsp; </DIV></LI></UL>
<DIV>For an interesting read on how we can begin leveraging uncertain data, read <A href="http://jeffjonas.typepad.com/jeff_jonas/2008/11/puzzling-how-observations-are-assembled-into-context.html">this blog posting </A>from Chief Scientist Jeff Jonas.&nbsp; <BR><BR><B>Data is like a natural resource&nbsp;because it must be consumed in order to produce value.</B><BR><BR>Oil in a barrel or coal in the ground has the same value as data stored in a data warehouse: none. &nbsp; It is only when oil is transformed into a usable form, and then injected into the combustion chamber of an engine that it has the potential to create value.<BR><BR>So while data is the new oil, our analytical models are the engines that turn the data into insight.&nbsp; Going one step further, business solutions like fraud detection, underwriting segmentation, call center optimization, or capital optimization are the solutions that turn insight into profit.</DIV>
<DIV>&nbsp;</DIV>
<DIV>One unique aspect about data as a resource is that multiple people can consume it.&nbsp; Once oil or coal are consumed, it is transformed into heat and energy and is gone.&nbsp; Data is not destroyed in the combustion process of turning the data into insight.&nbsp; Therefore to remain competitive, one must stay ahead of the competition by being very innovative in identifying and leveraging the resource.<BR><BR><B>Data is like a natural resource&nbsp;because&nbsp;it must be found, extracted, transported and refined to meet a specific purpose.</B><BR><BR>Like oil, data can be found in many places.&nbsp;&nbsp; Over time, businesses will get creative in how the find sources of data to leverage.&nbsp; We will find data from sensors, from other industries, stored in the boxes of documents held in Iron Mountain for storage, in on-board computers.&nbsp;&nbsp; The competitive company will be very creative in discovering this new oil.<BR><BR>Once it's found, like oil, data cannot always be directly consumed in an insight engine.&nbsp;&nbsp; It must be refined to a specific purpose.&nbsp; Oil can be refined into diesel, Jet A, high octane, heating fuel, etc.&nbsp;&nbsp;&nbsp; Diesel fuel will never work in a jet engine.&nbsp;&nbsp;&nbsp; So simply putting data into a single warehouse will limit the ability of a business to produce specific types of insight.<BR><BR>You must think about your supply chain of how you find, aggregate, validate, and package the data for specific purposes to efficiently create insight.<BR><BR><B>Data is like a natural resource&nbsp;because businesses will attempt to control data as they see value in it.<BR><BR></B>Like with any natural resource, there will be businesses that will attempt to control the resource.&nbsp; We see this today with firms like Verisk, 1st Data, Experiean, and others growing at very fast rates as they attempt to corner the market on this new natural resource.</DIV>
<DIV>&nbsp;</DIV>
<DIV>Are you ensuring that you will have an abundant supply of this new resource?&nbsp; How? Will the data contained in your warehouses be enough?</DIV>
<DIV>&nbsp;</DIV>
<DIV><B>A call to action</B></DIV>
<DIV>&nbsp;</DIV>
<DIV>In today's market, I believe that the company that produces the most insight wins.&nbsp; We can no longer rely on "intuition".&nbsp;&nbsp; Therefore, we must look ahead to secure our own personal supplies of data....and ensure we have the tools and the training to find and harvest our own data whereever it may reside. </DIV>
<DIV>&nbsp;</DIV>
<DIV>The more data we can find, aggregate, package and feed into our analytical engines....the more insight we can produce.<BR><BR>Do you have a strategy as it related to our next natural resource?&nbsp; What is it? Are you in position to leverage this resource to produce more insight than your competitors?&nbsp; Do you have an efficient supply chain to produce more insight than your competitors?</DIV>
<DIV>&nbsp;</DIV>
<DIV>If data is the next oil...consider how you will use this to grow your business and outperform your competitors.</DIV>Data is the next natural resource. The first time I heard that observation was from our new CEO Ginni Rometty, and I think it makes a a lot of sense. I have&nbsp;suggested before that data should be treated as a capital asset,&nbsp;but thinking about data as a...001267urn:lsid:ibm.com:blogs:entries-a27fff3d-0d1b-4145-b91e-6726fb6cadf1Insurance2013-06-26T15:55:07-04:00urn:lsid:ibm.com:blogs:entry-4c31753a-27a6-45d1-8206-3ca001cd74acIBM Smarter Business 2012Casper Hansenchansen@dk.ibm.com270004YJ0EactiveComment Entriesapplication/atom+xml;type=entryLikes2012-06-06T02:26:24-04:002012-06-06T02:26:24-04:00<!-- [if gte mso 9]&gt;&lt;xml&gt;
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&lt;/xml&gt;&lt;![endif]--><span style="font-size: 12pt; font-family: Arial;" lang="DA">Du kan også læse mere om eventet </span><a href="http://www-01.ibm.com/software/dk/events/smarterbusiness/" style="font-weight: bold;">her</a></div>IBM Smarter Business 2012
IBM Smarter Business
2012 afholdes d. 18. september i Bella Sky
IBM har en vision om at skabe en
mere intelligent verden – A Smarter Planet. Verden bliver mindre og mere
integreret, og vi er alle forbundne, både...001436urn:lsid:ibm.com:blogs:entries-5b1cf5af-491e-477f-9b44-c1d6e0120ce5IBM CSI Newsblog2013-10-23T02:10:25-04:00urn:lsid:ibm.com:blogs:entry-1ddc2944-8f26-4559-b77e-9cb60a75ce03State of Smart: HealthcareDerek Franksdefranks@us.ibm.com1100007YTJactiveComment EntriesLikes2012-05-08T15:08:53-04:002014-07-10T16:18:11-04:00<p dir="ltr">
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<span style="font-weight: bold;">Derek Franks</span><br />
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Consultant, <span style="font-style: italic;">IBM Center for Applied Insights</span></p>
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<span style="font-size:14px;"><strong>The IBM CAI blog has moved - please bookmark and follow the new blog at <a href="http://www.ibmcai.com">http://www.ibmcai.com</a></strong></span></p>
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Hello again!&nbsp; I&rsquo;m back today to discuss the healthcare industry data from our State of Smart work.&nbsp; If you&rsquo;re not familiar with State of Smart, you can <a href="http://public.dhe.ibm.com/common/ssi/ecm/en/yte03002usen/YTE03002USEN.PDF">check out our whitepaper</a> or <a href="http://www.ibm.com/ibm/ideasfromibm/us/cai_web/index.html">watch the video</a>.</div>
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<a href="https://www-304.ibm.com/connections/blogs/IBMCAI/resource/BLOGS_UPLOADED_IMAGES/HealthcareDistribution.JPG" target="_blank"><img alt="image" src="https://www-304.ibm.com/connections/blogs/IBMCAI/resource/BLOGS_UPLOADED_IMAGES/HealthcareDistribution.JPG" style=" display:block; margin: 1em 0pt 0pt 1em; float: right; position:relative;" /></a></p>
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As you can see, Healthcare has a distribution of 31% Outperformers and 69% Others.&nbsp; Overall, that breakout is similar to many other industries &ndash; with one exception.&nbsp; 19% of respondents identified that they had a high Anticipate capability with a low Listen capability.</p>
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This is unusual as typically most organizations will develop strong Listen capabilities before investing in Anticipate capabilities.&nbsp; The majority of healthcare organizations we surveyed followed this more typical model, but the higher number of outliers here suggests a couple of things: 1) Healthcare firms recognize the benefits of applying analytics to data in order to develop insights and 2) they could be dealing with an overwhelming amount of patient data that limits their ability to listen effectively.</p>
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<span style="font-weight: bold; color: rgb(25, 25, 112);">Most Important Issues over the next 3 years:</span></div>
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<a href="https://www-304.ibm.com/connections/blogs/IBMCAI/resource/BLOGS_UPLOADED_IMAGES/HealthcareIssues.PNG" target="_blank"><img alt="image" src="https://www-304.ibm.com/connections/blogs/IBMCAI/resource/BLOGS_UPLOADED_IMAGES/HealthcareIssues.PNG" style=" display:block; margin: 0 auto;text-align: center; position:relative;" /></a><br />
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We also saw something a bit different when we asked healthcare organizations about their most important issues over the next 3 years.&nbsp; Most other industries are focused on technical, economic or organizational challenges.&nbsp; Healthcare firms are clearly most focused on patient safety.&nbsp; It was selected as a top issue by 55% of respondents, with the next highest issue, compliance, only being selected by 37% of respondents.&nbsp; We also saw that an often talked about topic, cost control landed in 5th place with 28% of respondents selecting it.<br />
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Digging a little bit deeper into the data, we found that the vast majority of healthcare Outperformers collected data at every customer interaction (82%) and were 1.7x more likely to do so than the Others.&nbsp; This was the 2nd highest overall percentage behind retailers.<br />
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However, when we asked about their ability to capture unstructured data, we saw that healthcare organizations are struggling.&nbsp; Only 45% of the Outperformers captured unstructured data (2nd lowest overall) compared with 30% of the Others.&nbsp; This lends at least some credence to the theory mentioned above that some healthcare organizations may be struggling to keep up with the volume of data that is now available to them.<br />
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Also supporting the theory that healthcare organizations are embracing the value of analytics, when we asked who they shared insights with, we saw some of the highest numbers of any industry.<br />
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82% of Outperformers (vs 44% of Others) use insights to guide the actions of executive decision makers.&nbsp; 87% of Outperformers (vs 33% of Others) share insights with suppliers and business partners.&nbsp; 87% of Outperformers (vs 54% of Others) used analytics to recommend actions to patients.&nbsp; The Outperformer numbers were some of the highest of any industry and are all very logical ways for healthcare organizations to leverage insights from analytics.<br />
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This same theme continues when we look at where healthcare organizations realize value from analytics.&nbsp; 60% of Outperformers (vs 42% of Others) realize value when it comes to Patient Relationship Management.&nbsp; 48% of Outperformers (vs 33% of Others) realize value from Workforce Planning and Optimization.&nbsp; Again, these were all large percentages compared to other industries.<br />
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We did however see that there was a gap when it came to collaborating and sharing knowledge.&nbsp; Only 18% of Outperformers were realizing value here.&nbsp; That said, the overall numbers across industries were low for collaboration and sharing, but with analytics providing such strong value in a number of areas for healthcare organizations it seems logical that a possible next step would be to build better collaboration and sharing capabilities.&nbsp; After all, if nobody knows about an insight that&rsquo;s been developed regarding a patient, drug, procedure, etc, it can&rsquo;t add significant value.<br />
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Overall the data we see from healthcare organizations suggests that Outperformers are truly leveraging their Anticipate capabilities to drive value for the organization and for patients.&nbsp; That said, there&rsquo;s still opportunity to add value by continuing to develop the Listening capability while making sure that insights and knowledge can be shared across the organization.</p>
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Derek Franks
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The IBM CAI blog has moved - please bookmark and follow the new blog at http://www.ibmcai.com
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Hello again!&nbsp; I&rsquo;m back...011701urn:lsid:ibm.com:blogs:entries-47e61919-c8c7-40c7-9923-e513ea9bf00fIBM Center for Applied Insights2015-02-19T09:23:07-05:00urn:lsid:ibm.com:blogs:entry-1119acf2-0f52-48d2-926e-c75e1bc383caState of Smart: The Retail IndustryDerek Franksdefranks@us.ibm.com1100007YTJactiveComment EntriesLikes2012-03-20T09:00:00-04:002014-07-10T16:31:23-04:00<div dir="ltr">
<span style="font-weight: bold;">Derek Franks </span></div>
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Consultant, IBM Center for Applied Insights</p>
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<span style="font-size:14px;"><strong>The IBM CAI blog has moved - please bookmark and follow the new blog at <a href="http://www.ibmcai.com">http://www.ibmcai.com</a></strong></span></p>
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Welcome!&nbsp; This is the first post in a series of articles I&rsquo;ll be writing over the coming months that delve a bit deeper into some of the more interesting findings from our State of Smart research here at the&nbsp;<a href="http://www.ibm.com/smarterplanet/us/en/overview/examples/index.html">IBM Center for Applied Insights</a>.&nbsp;&nbsp;Today we&rsquo;ll be discussing some of the interesting data points for the retail industry including some surprising findings about CRM.</div>
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If you&rsquo;re not familiar with our State of Smart work, an overview of our research and findings can be found in our <a href="http://public.dhe.ibm.com/common/ssi/ecm/en/yte03002usen/YTE03002USEN.PDF">Executive Report</a>.&nbsp; We surveyed over 1100 executives worldwide across 9 industries to determine their organizations&rsquo; information and analytics capabilities (we refer to these capabilities as &ldquo;listen&rdquo; and &ldquo;anticipate&rdquo;).&nbsp; We found that organizations with these capabilities significantly outperformed their peers: 1.6x revenue growth, 2x EBITDA growth, and 2.5x stock price appreciation over a five year period.&nbsp; Not bad, huh?</p>
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But this only tells part of the story.&nbsp; We also asked these enterprises about where they realize value from analytics and how they deploy &ldquo;listen&rdquo; and &ldquo;anticipate&rdquo; capabilities.&nbsp; So let&rsquo;s dig into the retail data a bit deeper.</p>
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<a href="https://www-304.ibm.com/connections/blogs/IBMCAI/resource/BLOGS_UPLOADED_IMAGES/RetailDistribution.JPG" target="_blank"><img alt="image" src="https://www-304.ibm.com/connections/blogs/IBMCAI/resource/BLOGS_UPLOADED_IMAGES/RetailDistribution.JPG" style=" display:block; margin: 1em 0pt 0pt 1em; float: right; position:relative;" /></a> For our purposes, we&rsquo;re going to refer to retailers in the top right quadrant as &ldquo;Outperformers&rdquo; and everybody else as &ldquo;Others&rdquo;.&nbsp; Only 29% of retailers are Outperformers.&nbsp; About 62% of retailers have a high level of &ldquo;listen&rdquo; capabilities while only 38% of retailers have a high level of &ldquo;anticipate&rdquo; capabilities.</p>
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What this tells us is that retailers are pretty good at &ldquo;Listening&rdquo; &ndash; i.e. capturing data.&nbsp; By and large, most retailers have done a good job of laying down an information foundation.&nbsp; However, a much smaller proportion of those retailers are then translating that data into actionable insights.</p>
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So we know that retailers have room to improve when it comes to leveraging the data that they capture.&nbsp; What other interesting insights did we uncover?</p>
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For starters, as you might expect from the high &ldquo;listen&rdquo; capabilities, retail Outperformers are very good at capturing different types of data.&nbsp; Specifically, 84% of Outperformers capture data at every customer interaction (this was the highest % across any industry we surveyed).&nbsp; The &#39;data at every customer interaction&#39; spread between outperformers and others is 2.2x, the second highest gap among the nine industry categories.</p>
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Additionally, the 56% of the Outperformers captured unstructured data versus 35% of the Others.&nbsp; Essentially the Outperformers are looking beyond individual transaction data and are mining social media, weather patterns, etc to drive more robust information for applied decision making.</p>
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The Outperformers then leverage this information to drive actionable insights about their customers.&nbsp; For example, 84% of Outperformers (vs 38% of Others) use their information and analytics capabilities to recommend actions to customers.&nbsp; This can take the form of both customer facing recommendations, such as cross-selling or up-selling opportunities, or internal actions such as identifying next best actions to convert abandoned baskets or reactivate a dormant customer.</p>
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The holy grail of retailers has long been to develop deep insights about customers from a variety of data sources and then use these insights to drive actions that positively impact the customer experience and consequently improve their top and bottom line.&nbsp; Our data shows that the Outperformers are doing just that.</p>
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What we&rsquo;ve talked about so far is fairly intuitive.&nbsp; However in the course of analyzing the State of Smart data we saw several things that intrigued us.&nbsp; For instance, found that only 36% of Outperformers vs 31% of Others realized value from customer relationship management.&nbsp; We expected the overall percentages to be higher and gap to be wider.&nbsp; The data suggest several things.&nbsp; First, the true value of CRM has likely not yet been realized by most retailers.&nbsp; Second, the outperformers haven&rsquo;t yet found a way to drive the additional insights they&rsquo;ve been generating into their CRM practices.&nbsp;</p>
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Hopefully you found this deep dive into our State of Smart retail industry data to be interesting and useful.&nbsp; If you&#39;re interested in calculating the potential impact that developing your &quot;listen&quot; and &quot;anticipate&quot; capabilities can have on your business, I suggest you take a quick look at our&nbsp;<a href="http://www.ibm.com/smarterplanet/us/en/consumer_advocacy/article/value_quantification_tool_retail.html?ca=v_sustainabledevelopment">Smarter Merchandising</a>&nbsp;and&nbsp;<a href="http://www.ibm.com/smarterplanet/us/en/consumer_advocacy/article/value_quantification_tool_shopping.html">Smarter Shopping Experience</a>&nbsp;toolsets. &nbsp;We&#39;ve developed online calculators that let you quickly and easily get an idea of the potential economic benefits that leveraging analytics can have for your organization.&nbsp;</p>
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I&rsquo;ll be posting more deep dive articles over the next few months.&nbsp; Check back next next week for a deep dive into the banking industry data.&nbsp; If you have any questions about this article or requests for future articles, please feel free to let me know.</p>
Derek Franks
Consultant, IBM Center for Applied Insights
The IBM CAI blog has moved - please bookmark and follow the new blog at http://www.ibmcai.com
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Welcome!&nbsp; This is the first post in a series of articles I&rsquo;ll be...002563urn:lsid:ibm.com:blogs:entries-47e61919-c8c7-40c7-9923-e513ea9bf00fIBM Center for Applied Insights2015-02-19T09:23:07-05:00